FSLY - Here's How Fastly Stock Soared in March
2023-04-05 14:03:33 ET
Shares of content delivery network (CDN) operator Fastly (NYSE: FSLY) rose by an electrifying 27.9% in March, according to data from S&P Global Market Intelligence . There were several twists and turns on this thrill ride, so buckle up and let me guide you through the whole story.
The month started with a bang. On March 3, the Federal Reserve delivered an optimistic report on monetary policy, suggesting that the soaring inflation rate is coming back down, so federal interest rates should stop rising later this year.
That report might sound more relevant to a bank than to a fast-growing tech company, but Fastly is an unprofitable and cash-consuming tech company whose stock price is supported by double-digit revenue growth.
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Here's How Fastly Stock Soared in March